Module ASB-3212:Taxation

Module Facts

Overall aims and purpose

NOTE: If you register for this module, you cannot also register for ASB-3112 Advertising Strategy or ASB-3114 E-Marketing.

AIMS: To provide an overview of the place of taxation in a market economy. Issues such as the incentive to work and save, equity and economic efficiency are covered, in the context of personal, corporate and capital taxes. Policy implications of taxation are reviewed. In addition, the computation of personal income, corporate, capital gains and value added tax is covered.

Course content

The place of taxation in the economy;
The balance between equity and efficiency;
Income tax and incentives to work and save;
The role of capital taxation;
The bases of taxation and investment incentives;
Reform of the tax system;
Tax as a policy tool;
The calculation of personal, corporate, capital gains, inheritance and value added tax liabilities;
Basic tax planning.

Assessment Criteria

threshold

A basic understanding of taxation, and its calculation, will be shown, but with little development of the lecture material, and some errors will be present.

good

A good understanding will be shown, together with evidence of wider reading and few errors will be made.

excellent

A sound understanding will be demonstrated, with very few errors, and significant evidence of wide reading in the topic.

Learning outcomes

Understand the rationale for the various tax systems used in modern economies.

Understand the incentive structure of a taxation system and the conceptual issues surrounding these applications of taxation.

Be aware of and be able to calculate tax reliefs available to individuals and corporate bodies.

Assessment Methods

Type

Name

Description

Weight

Exam S1 2hrs

45

Exam S2 2hrs

55

Teaching and Learning Strategy

Hours

One 2-hour lecture per week, and three 1-hour workshops per week in Semester 1.

Private study

152

Lecture

There is a 2-hour lecture each week.

44

Workshop

The are workshops in semester 1.

4

Transferable skills

Literacy - Proficiency in reading and writing through a variety of media

Numeracy - Proficiency in using numbers at appropriate levels of accuracy

Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance

Exploring - Able to investigate, research and consider alternatives

Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.

Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting

Subject specific skills

knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)

knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain

knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)

Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.

Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.